Poor credit rating
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- 22 Responses
- Kiko
I got black listed when I was at university 4 years ago, and was not alowed to open a bank account for a while. 3 years ago I was alowed to open an account but was only issued a cash card. Now Im trying to apply for a credit card Debit card Cheque book ect but my bank isnt having any of it. They said I have a poor credit rating. That was four freaking years ago I was a broke student who wants working!!
Has anyone had this problem? And how was it solved?
- abettertype0
use cash...
- MX_OnD0
identity theft will be your friend
- MLP0
i've heard of grad schools denying applicants because of bad credit... that's so jacked... all students have bad credit after they take out a boatload of loans for their undergrad
- UndoUndo0
I think it is 5-7 yrs for full recovery. You can write to the agencies and get an explanantion. dont be tempeted to go to these companies they say they will get you credit even if you have a bad history, all they do is try loads of lenders and for each refusal you get your rating gets worse. stick it out and spend what you have.
- abettertype0
or you can find one of those shady credit card companies that look for people with bad credit, and just pay everything off on time, to start building your credit. Your interest rate will probably be really high. Credit is a bitch.
- paddywop0
Man, that could have been written by me. I'm in exactly the same boat, and its been 4 years since uni too.
I think what you have to do is pay off or start paying off the amount you're blacklisted for. For me its my old ovedrdraft.
I havent tried it yet though.
- _me_0
dont know what to say dude, other than reminds me of 'little britain' tippy-tappy-ti-tap.... computer says no.
- paddywop0
ps- i dont even want a credit card, just a switch card.
- nburlington0
don't apply for cards all the time. if you keep getting rejected it looks bad.
try opening a line of credit with a store. pick one you use. i opened one once and it came with an additional credit card that i could use anywhere.
just build yourself up slowly but don't get too many cards either.
- those0
those...
as in thosethatknow...
as in 'I am one of those that know the best flavour of crisps'...
previously known as:
those
TTK
thosethat
- those0
damn wrong thread...
- skt0
those that know what thread they are posting in?
- _me_0
those knows nowt
- Kiko0
I already payed off what I was black listed for. All I owe now is my student loan, but loads of people owe that too.
- uncle_helv0
identity theft will be your friend
MX_OnD
(Aug 10 05, 07:05)he he he class.
I was blacklisted pretty much the same as you, but since I got a well paid job I have a mortgage and the Banks keep trying to sign me up to all kinds of debt creating shit, wankers!! try the Citzens advice bureau, they sorted me out!
- mg330
(Long post, sorry!)
I've had bad credit, but it's getting better.
I was a typical college student approached over the phone by a major credit card company offering a "University Alumni mastercard"
when I was a freshman.
I had done telemarketing so I figured I'd at least help the guy get part of his quota for the day.Got sent a card, waited a long time to activate it. Finally did to buy myself and my roommate BMX bikes and take a girl out on a date. He gave me cash for his bike to pay me back, and I spent it all shopping.
Hit the $1000 max eventually, mostly through interested and nonpayment fees.
Now, this is where it gets absurd.
I managed to shut the card, and the debt out of my mind for like 2-3 years, to the point I accumulated over $4,000 in debt!!!!When I moved to Chicago, I didn't forward my address, so for a year my parents were getting mail, phone calls, etc. from the credit card company.
Finally they caught up with me in Chicago, but what I got offered was quite nice.
Another credit card company took on my debt (Capital One).
The knocked off 10% of the balance, and gave me a credit account where the debt was in a no-interest segment of the account.
Started me with a $100 limit, and for every $100 I paid, they increased my max by $25.In a nutshell, it's worked out great. I pay off my debt, have a card to use for small purchases, and get to prove that I can be consistent with payments. It was a great way out.
But bad credit is terrible. That wasn't my only problem, but others were way smaller. I just got my first apartment on my own, and needed a higher deposit because of bad credit.
(And I'm a little above the middle of the ratings scale.)I really need to take care of all of it, this kind of stuff ruins the chance to get mortgages, and all kinds of things.
- paraselene0
i've simply been ignoring my u.s. debt since i moved to london cos i can't afford to pay the monthly due. it's really bad. i should call them and try and get myself some sort of deal, but i'd rather not think about it. i'm sure my credit rating in the states is fucked, but i don't plan on going back, so it doesn't really matter that much. as long as i keep my nose somewhat clean over here, then perhaps one day i'll have decent briterish credit. or similar. christ even typing about it makes me feel like vomiting. :l
- tkmeister0
Capital One is your best friend.
When i was out of projects for 6months, i accumulated about 10k on my credit cards. it was getting rediculous with 15% interest and all.
after i landed a solid gig, i paid it off with in 10months.
now my credit score is 780. i am gonna try to hit 800!
- mg330
Capital One saved me big time.
I got 10% knocked off of about $4,500.
Can you believe I accumulated that much debt in interest and late fees! LOL
- tkmeister0
late fee and interest can kill you very easily. i think late fee only is like $35-40, then add interest of 15-18% on top of that, every month!